How insurance claim works

Have you ever wondered what happens to your claim? At The Co-operators, we’re committed to the highest standards of integrity and client service during the claims process. Here’s how we help you get things back to normal as quickly as possible.

First, the claims representative or adjuster contacts the client and gathers facts of the loss. Then the adjuster will review your insurance policy and see the coverage is in place.

We will assess the damage to determine the value of the loss or damage, get repair estimates and speak to health care providers if you’ve been injured. The claims representative uses appraisals and repair estimates to calculate the value of the loss or damage, and they may also ask you for information from invoices, receipts, photos, owner’s manuals and warranties. In some cases, you’ll be asked to complete a proof of loss form detailing the items lost or damaged.

Next, we pay directly for repairs and other work or offer a settlement according to the terms of your policy. The amount paid out for a claim depends on the type of policy you purchased:

Valued policies or Policies of Compensation set out the amount to be paid in certain circumstances.

Under Actual Cash Value policies, you receive payment to replace a damaged or stolen item with one of the same age and condition.

Replacement Cost policies provide payment based on the cost of repairing or replacing the damaged or destroyed item without factoring in depreciation.

Lastly, we settle the claim by paying the amount outstanding less your deductible. Most insurance policies are based on the principle of indemnity, which means you will be put back into the same financial position you were in before the loss. The amount you receive is subject to the deductibles and limits specified in your policy.Visit our Claims section for more information, and read about our Claims Guarantee.